New lump-sum amount for reimbursement of business use of private car
Employees using a privately-owned car for business purposes can now be reimbursed a lump-sum amount of EUR 0.3412 per kilometre. Costs that an employee incurs when using a privately-owned car for business purposes can be reimbursed by the employer free of income tax and exempt from social security contributions. Repayment can be made on a lump-sum basis, taking
VAT: for B2B situations the former tax point rules will be reinstated for advance invoicing!
Upon proposal of the Finance Cabinet, the Council of Ministers has approved a draft bill that reinstates the issuance of an advance invoice in B2B situations; this causes the VAT to become due in the hands of the supplier, allowing at the same time input VAT deduction in the hands of the business customer. The new
Skandia case: upcoming law formally confirms position of Belgian VAT authorities
Belgium has taken steps to respond to the outcome of the Skandia America Corp court case (C-7/13 of 17 September 2014). Indeed, the Belgian cabinet council has recently approved a draft proposal of law of the Belgian Minister of Finance (Johan Van Overtveldt), whereby all international transactions between a head office and a branch are subject
OECD releases model documents for implementing BEPS country-by-country reporting
On 8 June 2015, the OECD released a “Country-by-Country Reporting Implementation Package”. The package includes model legislation the OECD suggests could be used by countries to mandate filing of country-by-country reports (“CbCRs”). The model legislation does not attempt to address the filing of the so-called master file or local file reports. The key takeaway is
Transversal Royal Decree postponed
On 10 June 2015, the Royal Decree of 2 June 2015 (Royal Decree 2015) amending the Royal Decree of 25 April 2014 imposing certain information requirements for financial products offerings to retail clients (Transversal Royal Decree) was published in the Belgian Official Gazette. The main objective of the Royal Decree 2015 is to postpone the
OECD Discussion Draft on transfer pricing aspects of hard-to-value intangibles published
The OECD has published a discussion draft on the arm’s length pricing of intangibles when valuation is highly uncertain at the time of the transaction or the intangibles are hard to value. The discussion draft, released on 4 June 2015, is part of Action Item 8 of the OECD’s Base Erosion and Profit Shifting (BEPS)
European Commission takes the next step in its EU-wide State aid review of tax ruling practices
On 8 June 2015, the European Commission announced its next steps in its EU-wide State aid review of Member States’ tax ruling practices. The European Commission states in its press release that, following the December 2014 enquiry, Estonia and Poland refused to respond in full detail to the information request. Therefore, the Commission has now
Meal vouchers and non-recurring collective bonuses – Adjustment of maximum amounts
The Council of Ministers has introduced a draft bill in Parliament. This draft legislation envisages two specific measures with respect to ‘meal vouchers’ and ‘non-recurring bonuses’, which are planned to enter into force as of 1 January 2016 if approved by Parliament: The maximum amount of the employer’s contribution for meal vouchers would be increased from